In their current edition of theHome Price Expectation Surveyreleased last week,Pulsenomicsasked this question of the 100+ economists, real estate experts and investment & market strategists they surveyed:
“In your opinion, what is the primary driver of recent home value growth in the U.S.?”
Here are the top four reasons given by those surveyed:
As we have stated before, the current lack of inventory in most housing markets has caused home appreciation to increase at greater percentages than historical averages. This means that this is a great time to sell your home as supply is low and demand is high.
However, things may be about to change…
The fortuitous situation sellers see themselves in may soon change for three reasons:
As more homeowners realize their equity situation has dramatically improved over the last four years, they will be more likely to put their homes on the market.
With the residential real estate sector outperforming a sluggish economy, more home builders will be looking to add new construction inventory to a depleted supply of housing stock.
Many banks are just now foreclosing on loans that have been delinquent since the housing bust. These houses will also be coming to market.
In today’s market, with home prices rising and a lack of inventory,
" Dave and Nancy were amazing. I was out of state trying to sell a home that was empty. They did a great job handling offers - and helping me respond and negotiate. They also kept me abreast of activities in the area that might affect my sale. We strategized on best way to respond to offers as well as which ones were real and worth pursing. I can't be more complimentary about them. We were able to get a good price for the home. I have bought and sold some 15 homes over the years and I can honestly say that the Lagaz team was at the top of my list as both professional and competent real estate folks."